Home Loans for Accounting Professionals
Home Loans for Accountants, Auditors & Finance Professionals
Eligible accounting and finance professionals may access lender policies designed to reduce the upfront cost of purchasing property.
Depending on the lender and your circumstances, you may qualify to borrow up to 90% of the lender-assessed property value without paying LMI.
This may allow you to purchase with a 10% contribution of the property value. You will still need funds for stamp duty and other purchasing costs.
Eligibility is not based on your job title alone. Lenders may consider your qualifications, professional membership, income, employment and credit history.
Your loan remains subject to the lender's serviceability, valuation, credit and lending criteria.
At My Finance Consultants, we compare suitable lenders and identify professional lending policies you may qualify for.
We then manage your application from initial assessment through to settlement.
Who May Be Eligible?
Qualified accountants and auditors may qualify when they hold an accepted professional membership or certification.
Selected lenders may also consider finance managers, financial controllers, CFOs, finance directors and accounting firm partners.
CFA charterholders, actuaries and some other finance professionals may also qualify under selected lender policies.
Depending on the lender, recognised credentials may include CA, CPA, IPA, CFA and FIAA. Selected international qualifications may also be accepted.
Professional eligibility varies between lenders. Minimum income requirements, maximum loan amounts and other conditions may apply.
We confirm the current lender requirements before recommending a home loan.
Potential Home Loan Benefits
LMI Waivers up to 90% LVR
Some lenders allow eligible professionals to borrow up to 90% LVR without paying Lenders Mortgage Insurance.
LMI is commonly required when borrowing above 80% of a property's lender-assessed value. It protects the lender rather than the borrower.
Avoiding LMI can potentially save thousands of dollars in upfront costs. It may also reduce your total loan amount if LMI would otherwise be capitalised.
The lender's valuation can differ from the purchase price. This may affect your required contribution and total funds needed.
Retain More of Your Savings
Purchasing without a 20% deposit may allow you to retain more of your available savings.
Those funds could remain available for purchasing costs, an emergency buffer, renovations or future financial priorities.
However, a smaller deposit generally means a larger loan. Higher repayments and total interest costs should also be considered.
Compare the Total Cost of the Loan
An LMI waiver does not automatically mean a loan offers the lowest interest rate or best overall value.
We compare suitable lenders across interest rates, comparison rates, fees, repayment options and loan features.
We can also consider offset accounts and loan structure when assessing your options.
The goal is to determine whether the professional lending benefit makes sense as part of the overall cost and structure of your loan.
Owner-Occupied, Investment & Structured Lending
Professional lending benefits may be available for both owner-occupied homes and investment properties.
Maximum LVRs, income requirements and acceptable property types can differ depending on the lender and loan purpose.
Purchasing through a company or trust can involve additional lending requirements.
A professional LMI waiver available to an individual borrower may not apply to every company or trust structure.
We can compare suitable lending options and coordinate with your accountant or legal adviser where required.
Your accountant or legal adviser should provide any specific tax, legal or asset-protection advice.
Estimate Your Borrowing & Repayments
Our Borrowing Power Calculator can provide an initial estimate of how much you may be able to borrow.
It considers factors including your income, expenses and existing financial commitments.
You can also use our Mortgage Repayment Calculator to estimate repayments across different loan amounts, rates and terms.
These calculators provide estimates only. Your actual borrowing capacity will depend on the lender's assessment criteria.
Our Home Loan Process
Initial Consultation
We discuss your property plans, financial position and preferred loan structure.
We also review your professional qualifications and membership to determine which professional lending policies may apply.
Lender Comparison & Loan Strategy
We compare suitable lenders from our panel based on your borrowing requirements, deposit, property and professional eligibility.
We explain relevant rates, fees, repayments, features and important lending conditions before you proceed.
Application & Approval
We prepare your application and coordinate the supporting documentation required by the lender.
We manage lender enquiries and keep you informed throughout assessment and approval.
Settlement & Ongoing Reviews
We coordinate with the lender and other relevant parties as your loan progresses towards settlement.
After settlement, we can periodically review your interest rate, features and loan structure to determine whether they remain competitive.
Frequently Asked Questions
What Is the Maximum LVR I Can Borrow Without LMI?
Some lenders may allow eligible accounting and finance professionals to borrow up to 90% LVR without paying LMI.
Your maximum LVR depends on the lender, professional eligibility, income, loan amount, property and loan purpose.
LVR is generally calculated using the lender's accepted property value, which may differ from the purchase price.
Do I Automatically Qualify Because I Work in Accounting or Finance?
No. Your occupation alone does not guarantee eligibility.
The lender may require an accepted professional qualification or current membership, alongside income, credit and serviceability requirements.
What Professional Qualifications May Be Accepted?
Depending on the lender, recognised credentials may include CA, CPA, IPA, CFA and FIAA.
Some lenders may also recognise selected international accounting or finance qualifications.
What Documents Will I Need?
You may need evidence of your professional qualification or current membership.
Standard home loan documents are also required, including identification, income evidence and details of expenses, liabilities and available funds.
Can a Joint Application Qualify?
Potentially. The lender will consider which applicant holds the qualifying professional credential and assess both applicants.
Requirements vary depending on the lender and loan structure.
Can I Use an LMI Waiver for an Investment Property?
Some lenders extend professional lending benefits to eligible investment property loans.
Maximum LVRs, income requirements and property restrictions may differ from owner-occupied lending.
Can I Qualify Without CA or CPA Membership?
Possibly. Selected lenders recognise other Australian and international qualifications, including certain IPA, CFA and actuarial credentials.
We can assess which current lender policies may apply to your qualifications.
Does an LMI Waiver Guarantee Home Loan Approval?
No. An LMI waiver only relates to the requirement to pay Lenders Mortgage Insurance.
You must still satisfy the lender's serviceability, credit, valuation, property and lending requirements before your loan can be approved.